New Zealand farm sales nearly doubled in the three months ended October 2011 compared with a year earlier, according to the Real Estate Institute of NZ (Reinz). Sales totalled 286 properties.
But the median average price increased only 6.7 per cent, to $18,878.
Reinz spokesperson Brian Peacocke said nine regions recorded an increase in sales volumes, including Canterbury, Auckland and Nelson, while Manawatu and Wanganui had a 3 per cent drop in sales.
Grazing properties accounted for the largest number of sales with a 58.7 per cent share of sales over the three months.
Horticulture properties accounted for 7.7 per cent and dairy properties 5.9 per cent.
